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Arab News
18 hours ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 11,095
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 118.18 points, or 1.05 percent, to close at 11,095.41. The total trading turnover of the benchmark index was SR4.52 billion ($1.21 billion), with 46 of the listed stocks advancing and 204 declining. The Kingdom's parallel market Nomu also shed 55.43 points to 27,301.46. The MSCI Tadawul Index declined by 1.09 percent to close at 1,421.31. The best-performing stock on the main market was SHL Finance Co. The firm's share price increased by 5.21 percent to SR22.62. The share price of SICO Saudi REIT Fund rose by 5.1 percent to SR4.33. Tourism Enterprise Co. also saw its stock price climb by 3.26 percent to SR0.95. Conversely, the share price of Alistithmar AREIC Diversified REIT Fund declined by 4.03 percent to SR9.05. On the announcements front, Saudi Co. for Hardware, also known as SACO, said that it signed an agreement valued at SR140.43 million to sell its warehouse in Al-Mashael district in Riyadh. In a Tadawul statement, SACO said that the proceeds from the sale will be used to repay existing bank loans and help support its future expansion plans. The firm further said that the 42,937-sq.-meter warehouse was sold to 6th Iradat Al Imdad Co., a limited liability company. The firm added that there are no related parties involved in the deal. The share price of SACO dropped by 1.02 percent to SR29.14. The shareholders of Saudi Lime Industries Co. approved a recommendation to increase its capital by 5 percent through a one-for-20 bonus share distribution, by capitalizing SR11 million from the firm's retained earnings account. The stock price of Saudi Lime Industries Co., listed on the parallel market, advanced by 4.77 percent to SR12.97.
Arab News
3 days ago
- Business
- Arab News
Closing Bell: Saudi main index ends lower at 11,253
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Sunday, shedding 24.01 points, or 0.21 percent, to close at 11,252.90. The total trading turnover on the benchmark index stood at SR4.04 billion ($1.08 billion), with 98 stocks advancing and 148 declining. The Kingdom's parallel market Nomu edged down by 41.88 points to close at 27,437.62, while the MSCI Tadawul Index fell 0.19 percent to 1,442.43. The best-performing stock on the main market was SHL Finance Co., with its share price rising 9.98 percent to SR21.26. Al Sagr Cooperative Insurance Co. followed, gaining 6.47 percent to SR14.80, while Fawaz Abdulaziz Alhokair Co. climbed 5.80 percent to SR33.20. Zamil Industrial Investment Co. recorded the steepest decline of the day, with its share price falling 2.75 percent to SR46.00. On the announcement front, Almoosa Health Co. said it signed an SR192 million contract with MASAH Specialized Construction Co. to carry out preliminary construction and foundation work for the Almoosa Specialist Hospital project in Al-Hofuf. In a press statement, the company said the financial impact of the 14-month contract will be reflected after the completion of the hospital's construction. The company added that there are no related parties involved in the deal. Almoosa Health's share price inched up 0.12 percent to close at SR165.00. Sports Club Co. completed its retail offering ahead of its planned listing on the Kingdom's main market. Saudi Fransi Capital, the lead manager, financial adviser, bookrunner, and underwriter for the IPO, confirmed the development. According to a statement, 259,690 investors participated in the retail subscription period, with a final offer price of SR7.50 per share. Saudi Fransi Capital added that retail orders totaled approximately SR247.7 million, representing an oversubscription rate of 533.6 percent.
Arab News
6 days ago
- Business
- Arab News
Closing Bell: Saudi main index steady at 11,277; Nomu edges up
RIYADH: Saudi Arabia's Tadawul All Share Index was steady on Thursday, as it marginally declined by 0.01 percent, or 0.82 points, to close at 11,276.91. The total trading turnover of the benchmark index was SR4.96 billion ($1.32 billion), with 128 of the listed stocks advancing and 120 declining. The Kingdom's parallel market Nomu gained 31.28 points to close at 27,479.50. The MSCI Tadawul Index marginally shed 0.02 points to 1,445.23. The best-performing stock on the main market was SHL Finance Co. The firm's share price increased by 9.95 percent to SR19.33. The share price of Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, rose by 5.8 percent to SR31.38. Sustained Infrastructure Holding Co. also saw its stock price rise by 4.24 percent to SR35.44. Conversely, the share price of Umm Al Qura for Development and Construction Co. declined by 6.14 percent to SR25.06. On the announcements front, Anmat Technology for Trading Co. said that it received a contract valued at SR50 million from Etihad Etisalat, also known as Mobily, to supply and install power generator systems and a fuel monitoring system. In a press statement, Anmat said that the contract is effective from June 26 and will last until May 17, 2028. The company added that the impact of the deal will be reflected in the firm's financials from the second half of this year and will continue until the end of the contract duration. The share price of Anmat, which is listed in Nomu, increased by 10.19 percent to SR12.33. International Human Resources Co. said that it signed a framework agreement with the Arab National Bank to provide human resources services. According to a Tadawul statement, the contract is valid for 12 months and will be renewed for a similar period unless either party notifies the other at least 30 days prior to the expiry date. International Human Resources Co.'s share price rose by 2.83 percent to SR6.17.
Zawya
18-06-2025
- Business
- Zawya
Saudi-listed Al Quara Finance secures $26mln credit facility
Saudi Arabia's Quara Finance has secured a credit facility worth SAR 100 million ($26.6 million) from SHL Finance Co., a related party. The three-year Shariah compliant facility is expected to boost Quara Finance's sales volume, aligning with its strategic objectives, the company said on Tuesday. The firm provided a promissory note for the full amount of the facility and an assignment of receivables covering 120% of the outstanding balance as guarantees for the financing. The company also clarified that an indirect shareholder of Quara Finance, Yousef Abdullah Al-Shilash, also has a shareholding in SHL Finance Company. (Writing by Cleofe Maceda; editing by Seban Scaria)
Arab News
22-05-2025
- Business
- Arab News
Closing Bell: Saudi main index ends lower at 11,188
RIYADH: Saudi Arabia's Tadawul All Share Index closed in the red on Thursday, falling 114.94 points, or 1.02 percent, to settle at 11,188.74. The total trading turnover reached SR4.4 billion ($1.17 billion), with 76 stocks advancing and 165 declining. The MSCI Tadawul 30 Index also dropped, losing 12.2 points, or 0.85 percent, to close at 1,428.81. The Kingdom's parallel market Nomu declined by 156.89 points, or 0.57 percent, to close at 27,260.73, with 29 stocks gaining and 49 retreating. The best-performing stock of the day was Saudi Reinsurance Co., rising 3.70 percent to SR49. Other top gainers included Al-Rajhi Company for Cooperative Insurance, whose share price rose 3.65 percent to SR119.2, and Umm Al-Qura Cement Co., which gained 3.42 percent to SR17.54. The day's largest decline was seen in SHL Finance Co., with its share price dipping 4.93 percent to SR19.30. Al-Etihad Cooperative Insurance Co. saw its shares drop 3.86 percent to SR13.44, while Saudi Arabian Oil Co. declined 3.64 percent to SR25.15. The best performer on the Kingdom's parallel market was Enma AlRawabi Co., with its share price surging by 7.77 percent to reach SR24.98. Lamasat Co.'s share price increased by 7.58 percent to reach SR7.1, and Natural Gas Distribution Co. reached SR47, increasing by 6.82 percent. Albattal Factory for Chemical Industries Co. was the worst performer on the parallel market, declining 16.83 percent to reach SR42.
